Interest in Cryptocurrency Jumped 15-Fold in Kazakhstan

Interest in cryptocurrency in Kazakhstan has surged fifteen-fold this year compared to 2017 according to a study by Yandex. The number of online searches began to rise significantly in June of last year for a number of cryptocurrency-related search terms.

Crypto-Related Search Queries Increase

A multinational corporation specializing in Internet-related services and products, Yandex, recently conducted a study of search queries by Kazakhstanis on topics related to cryptocurrencies, blockchains, and crypto mining, Zakon reported.

Kazakhstanis are most actively searching combination words involving “cryptocurrency,” the study revealed. Users frequently search for courses in cryptocurrency, crypto exchanges, how to buy crypto, how to mine them, and other related search terms. The news outlet elaborated:

In early 2018, Kazakhstan residents made about 15 times more requests with this word [cryptocurrency] than in the same period of 2017.

For the search term “bitcoin” specifically, “users ask Yandex 7 times more than in early 2017,” the publication detailed.

Specific Searches

Among the topics with the most number of searches are bitcoin, blockchain, initial coin offerings (ICOs), and crypto mining, the study revealed.

However, Kazakhstanis also asked Yandex specific questions such as “can a schoolboy work for bitcoin?”, “what is a blockchain in simple words for dummies?”, “how much does mining pay really?”, and “where to get money for a mining farm?”

Searchers are also concerned about crypto mining malware, asking Yandex “how to find out if I have a mining virus,” as well as searching for software and solutions to protect themselves against this type of malware.

Last year, the number of crypto-related searches rose significantly in June and September, the news outlet noted, adding that:

10 times more often users from Kazakhstan began to ask Yandex about video cards for mining and how to mine.

The biggest jump in interest on this topic occurred between June and July of last year, Yandex further revealed, noting that “The query ‘to buy graphics cards’ saw the biggest increase last month”.

As for ICOs, search requests including this word by Kazakhstanis have grown “4 times more often than a year earlier,” the news outlet described, adding that the number of such requests has been growing since November of last year. Moreover, people are searching for “ICO projects,” “prospective ICO,” and “ICO support.”

Last month, four employees of the country’s Ministry of Finance were caught mining cryptos.

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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